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China to split tobacco firm
http://www.sina.com.cn 2003/04/22 11:01  Shanghai Daily

  China plans to break up its tobacco monopoly and allow one of its cigarette companies to sell shares to the public, the South China Morning Post said.

  The government will split the State Tobacco Monopoly's regulatory and business functions, giving responsibilities for growing, production, distribution and sales to China TobaccosgroupsCo, the newspaper said. State Tobacco Monopoly, set up in January 1982, operates 123 cigarette plants employing 500,000 workers, with annual revenue of 500 billion yuan (US billion), the paper said.




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